Nürburgring sold to Miami-based private equity firm?

The legendary Nürburgring race track is rumoured to have been sold for an undisclosed amount between Euro 60-70 million (Rs 507 - 592 crore). The highest bidder, Miami-based private equity firm, HIG Capital, is said to be the new owner of the iconic race track.

HIG capital has outbid Formula One boss Bernie Ecclestone who also submitted an offer of USD 50 million for the circuit. HIG declined to comment on the purchase. The assets also include an adjacent amusement park which features a rollercoaster to mimic an F1 car. The 20km track, also the world's longest race track, was boycotted following Niki Lauda’s crash in 1976. 

A report in Reuters says Nürburgring trustees wanted a three-digit sum for it. On being asked whether the Nürburgring will return to the Formula One calendar Bernie said “it depends on who buys it.”

It is uncertain now on what happens to the infamous race-track, we positively hope the track remains functional forever. 

Source: Reuters